Why Shares of Babcock & Wilcox Are Soaring Today
Babcock & Wilcox's (NYSE: BW) third-quarter revenue of $160 million fell well short of analysts' consensus expectation of $187 million. Investors, however, don't seem to mind too much as the company crushed earnings estimates. While analysts had expected it to book earnings per share of $0.02, the company, a leader in energy and environmental technologies, reported EPS of $0.12.
As of 2:08 p.m. EST Thursday, shares of Babcock & Wilcox were up by 22.6%.
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Source Fool.com
